ITM 102 Chapter Notes - Chapter 10: Disintermediation, Neopets, Menu Cost

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 102
• Professor: Franklyn Prescod

Document Summary

E-commerce is available everywhere, at all times. A marketspace is a marketplace extended beyond traditional boundaries and removed from a temporal and geographic location. E-commerce reduces transaction costs (costs of participating in a market) The costs merchants pay to bring their goods into a market. The effort required to find suitable products. Information richness refers to the complexity and content of a message. The web makes it possible to deliver rich messages with text, audio, and video to large numbers of people. Information density is the total amount and quality of information available to all market participants, consumers, and merchant. Information density in e-commerce markets makes price and cost more transparent. Price transparency is the ease with which consumers can find out the variety of prices in a market. Cost transparency is the ability of consumers to discover the actual costs merchants pay for products.